Nearwater Capital Markets Ltd bought a new position in shares of ConocoPhillips (NYSE:COP - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 350,000 shares of the energy producer's stock, valued at approximately $34,710,000. ConocoPhillips comprises 1.0% of Nearwater Capital Markets Ltd's holdings, making the stock its 28th biggest position.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in COP. Orrstown Financial Services Inc. grew its stake in ConocoPhillips by 3.0% during the 4th quarter. Orrstown Financial Services Inc. now owns 3,342 shares of the energy producer's stock valued at $331,000 after purchasing an additional 96 shares during the last quarter. Principle Wealth Partners LLC grew its stake in ConocoPhillips by 0.3% during the 4th quarter. Principle Wealth Partners LLC now owns 37,255 shares of the energy producer's stock valued at $3,695,000 after purchasing an additional 100 shares during the last quarter. Arlington Trust Co LLC grew its stake in ConocoPhillips by 1.2% during the 4th quarter. Arlington Trust Co LLC now owns 8,640 shares of the energy producer's stock valued at $857,000 after purchasing an additional 102 shares during the last quarter. Gray Wealth Management Inc. grew its stake in ConocoPhillips by 5.0% during the 4th quarter. Gray Wealth Management Inc. now owns 2,171 shares of the energy producer's stock valued at $215,000 after purchasing an additional 104 shares during the last quarter. Finally, Plancorp LLC lifted its holdings in shares of ConocoPhillips by 2.7% in the 4th quarter. Plancorp LLC now owns 4,018 shares of the energy producer's stock valued at $399,000 after buying an additional 104 shares during the period. 82.36% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
COP has been the subject of several analyst reports. Wells Fargo & Company decreased their price objective on ConocoPhillips from $116.00 to $113.00 and set an "overweight" rating for the company in a report on Wednesday. Piper Sandler decreased their price objective on ConocoPhillips from $114.00 to $107.00 and set an "overweight" rating for the company in a report on Tuesday, May 13th. Barclays decreased their price objective on ConocoPhillips from $135.00 to $120.00 and set an "overweight" rating for the company in a report on Wednesday, April 23rd. The Goldman Sachs Group set a $132.00 price objective on ConocoPhillips in a report on Thursday, January 30th. Finally, Susquehanna decreased their price objective on ConocoPhillips from $120.00 to $114.00 and set a "positive" rating for the company in a report on Monday, May 12th. Three analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $122.74.
Check Out Our Latest Stock Analysis on COP
ConocoPhillips Price Performance
Shares of ConocoPhillips stock traded down $0.62 during mid-day trading on Friday, reaching $92.34. 6,693,880 shares of the stock traded hands, compared to its average volume of 7,325,888. The business has a 50-day moving average of $93.24 and a 200 day moving average of $99.03. ConocoPhillips has a fifty-two week low of $79.88 and a fifty-two week high of $122.11. The stock has a market capitalization of $116.73 billion, a PE ratio of 11.85, a PEG ratio of 0.79 and a beta of 0.64. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.36.
ConocoPhillips (NYSE:COP - Get Free Report) last announced its earnings results on Thursday, May 8th. The energy producer reported $2.09 EPS for the quarter, beating analysts' consensus estimates of $2.05 by $0.04. ConocoPhillips had a return on equity of 17.26% and a net margin of 16.23%. The business had revenue of $16.18 billion during the quarter, compared to analysts' expectations of $15.74 billion. During the same quarter in the prior year, the firm earned $2.05 earnings per share. On average, analysts predict that ConocoPhillips will post 8.16 EPS for the current year.
ConocoPhillips Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Monday, May 19th will be issued a dividend of $0.78 per share. The ex-dividend date is Monday, May 19th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.38%. ConocoPhillips's payout ratio is currently 39.64%.
ConocoPhillips Profile
(
Free Report)
ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids in the United States, Canada, China, Libya, Malaysia, Norway, the United Kingdom, and internationally. The company's portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; global LNG developments; oil sands assets in Canada; and an inventory of global exploration prospects.
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